Long-term contracts further strengthen RATU’s prospects. The company has secured agreements for the Cepu block until 2035 and for the Jabung block until 2043. Partnerships with major players like ExxonMobil and PetroChina also enhance operational efficiency through advanced technology and expertise, reducing risks associated with global energy price fluctuations.

Financial performance in the first half of 2024 showed significant improvement. RATU’s revenue increased by $16.44 million compared to the same period in 2023, driven by higher sales volume and better average weighted prices. Net profit for the six-month period reached $7.43 million, marking a 20.53% increase from $6.17 million in the previous year.

Despite its strong growth outlook, RATU faces several challenges, including higher operational costs for the Jabung block, increased income tax expenses for the oil and gas sector, and higher interest expenses stemming from loans acquired in mid-2023. These factors could pressure profitability in the short term.

Founded in 2006, RATU is a strategic player in Indonesia’s oil and gas sector. The company’s portfolio includes key interests in the Cepu and Jabung blocks through PT Petrogas Jatim Utama Cendana and PT Raharja Energi Tanjung Jabung. With its IPO, RATU aims to secure additional capital to strengthen its operations and expand its presence in the energy market. (Uki Ruknuddin)

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